Current Affairs May 09, 2019

The 15th Finance Commission will have meetings with the Reserve Bank of India (RBI), banks and financial institutions on May 8 and 9 in Mumbai.

The Commission is likely to discuss views on key macro-economic assumptions, cost of borrowings for the Centre and states, requirements for the recapitalisation of banks.

The other issues that would come up during the deliberation include market driven borrowing cost and debt trajectories of states.

2. Vice President to embark on a four-day visit to Vietnam

The Vice President of India, Shri M. Venkaiah Naidu will embark on a four-day official visit to Vietnam from May 09. His visit is expected to enhance India’s comprehensive strategic partnership with the Southeast Asian nation.

Upon his arrival in Vietnam’s Capital Honoi, Shri Naidu will address the Indian Community at a reception hosted by the Ambassador of India.

Shri Naidu’s participation at the event is expected to further strengthen ties between India and Buddhist communities worldwide.

3. Max Life Insurance to Mark 6th of Every Month as Protection Day

Max Life Insurance Co Ltd, one of industry's foremost life insurance companies, announced that it will dedicate 6th day of every calendar month as 'Protection Day' towards driving awareness around the concept of financial protection.

As a part of this initiative, a wide range of initiatives will be rolled out across Max Life's network of over 240 Max Life's offices and a wider network of its distribution partners.

As a part of the initiative the Company will also drive a "Super Customer Week", where customers across the board will be educated about various aspects of financial protection.

4. Visa appoints Sujatha V Kumar as Head of Marketing for India and South Asia

Visa announced the appointment of Sujatha V Kumar as Head of Marketing for India and South Asia.

She will be driving overall marketing strategy and execution including consumer, retail and digital marketing initiatives for India and the emerging markets of Sri Lanka, Bangladesh, Nepal and the Maldives.

Prior to this, Sujatha was with Google as Head - Brand & Reputation, Marketing and Strategy.

Sujatha started her career at Procter & Gamble and, over the years, has gathered rich experience in sales and marketing across companies such as Gillette, Nokia, The Royal Bank of Scotland and Coca-Cola.

5. India's Jagjit Pavadia re-elected to International Narcotics Control Board

In a significant victory, India's Jagjit Pavadia was re-elected to the International Narcotics Control Board (INCB) for another term.

She posted the highest number of votes at 44. Ms Pavadia has been a member of the INCB since 2015 and her current term is set to expire in 2020.

The victory added to India's successful record of winning crucial elections at the UN and to the world organisation's subsidiary bodies.

Bharti Airtel has decided to merge its broadband satellite, or VSAT, business with that of market leader Hughes Communications India, to create a stronger no. 1 in the space.

VSAT is used to provide satellite based telecom and internet access to individuals and enterprise users. The new company will continue to be called Hughes Communications India Ltd., but the name could be changed in future.

Hughes Communications will own 67% share of the new entity while Airtel will own the rest.